* Asian FX drop, baht down 0.6%
* China Q3 GDP misses estimates
* Curbs relaxed in some Malaysian states
By Anushka Trivedi
Oct 18 (Reuters) - Kuala Lumpur stocks hit a five-month peak on Monday, lifted by higher oil
prices and hopes of further economic reopening, while Chinese growth numbers missing forecast
kept a lid on broader Asian emerging market equities.
The ringgit, however, weakened 0.3% on the day, falling along with its peers
against a firm dollar. The Thai baht led losses as traders sold it to buy U.S.
dollars to purchase gold, analysts said.
Malaysia equities rose 0.7%, as movement restrictions were further relaxed here
in Klang Valley, Melaka and five other states, following the government's announcement last
week that it would no longer impose wide lockdowns.
Stocks have gained 6% in about a fortnight as net oil exporter Malaysia benefited from
higher crude prices and the government lifting travel restrictions for fully-vaccinated
residents after hitting its goal to inoculate 90% of the population.
"Kuala Lumpur has risen ... as reopening plans gain traction and commodities, especially
energy, remain firm," said Jeffrey Halley, senior market analyst - Asia Pacific, OANDA.
Public Bank Bhd and oil and gas explorer Petronas Dagangan were among
the top gainers on the benchmark index.
Broader stock gains were capped after data showed China's economy grew at its slowest pace
in a year in the third quarter, missing market expectations.
Shanghai equities eased 0.2%, while South Korea and Taiwan stocks
fell 0.3% and 0.5%, respectively. Philippine shares were flat.
Among currencies, the Philippine peso, South Korea's won and the Singapore
dollar fell between 0.2% and 0.4%.
The Thai baht eased 0.5% to 33.450, its biggest intraday fall since Oct. 6 as the
currency erased some of the strong gains posted last week.
"As gold prices tanked, some swing traders entered to buy, which is contributing to the
weakness in the Thai baht," said Poon Panichpibool, a market strategist at Krung Thai Bank.
HSBC analysts said a sustainable recovery in the baht was only likely in 2022 given the
oil-importing country is currently grappling with rising energy prices and a trade deficit.
HIGHLIGHTS
** Singapore Sept non-oil domestic exports up 12.3%, beat estimates
** Singapore's 10-year benchmark yield is up 5.8 basis points at 1.727%
** Indonesian 10-year benchmark yields are down 5.9 basis points at 6.21%
Asia stock indexes and currencies at
0738 GMT
COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS DAILY % STOCKS YTD %
Japan -0.03 -9.64 -0.15 5.76
China +0.04 +1.48 -0.12 2.74
India +0.02 -2.89 1.02 32.49
Indonesia -0.21 -0.43 0.58 11.58
Malaysia -0.22 -3.48 0.40 -1.39
Philippines -0.26 -5.55 0.09 1.12
S.Korea -0.44 -8.54 -0.28 4.64
Singapore -0.21 -2.21 -0.08 11.52
Taiwan +0.08 +1.71 -0.45 13.39
Thailand -0.48 -10.41 0.19 13.26
(Reporting by Anushka Trivedi in Bengaluru; Editing by Rashmi Aich)
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